{"id":1004398298,"date":"2020-03-09T06:31:08","date_gmt":"2020-03-09T14:31:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004398298"},"modified":"2020-03-09T06:31:08","modified_gmt":"2020-03-09T14:31:08","slug":"paramount-agrees-to-115m-dc-office-disposition","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/paramount-agrees-to-115m-dc-office-disposition\/","title":{"rendered":"Paramount Agrees to $115M DC Office Disposition"},"content":{"rendered":"
\"\"<\/a>

1899 Pennsylvania Avenue<\/p><\/div>\n

Paramount Group has agreed to sell 1899 Pennsylvania Avenue, a 191,000-square-foot office building in Washington, D.C., for $115 million. The transaction is slated to close in the fourth quarter. According to Yardi Matrix, Paramount acquired the property from KanAm Grund in 2010. The asset sold at the time for $151 million.<\/p>\n

The Class A office building came online in 1917 and was completely redeveloped in 2002. The 11-story property has 18,200-square-foot floor plates and includes a subterranean parking garage. The Class A asset was certified to the LEED Gold level in December 2016. Tenants within 1899 Pennsylvania include Newmark Knight Frank and Global Environmental Facility.<\/p>\n

Located less than three blocks northwest of the White House, the property is a short walk from K Street and the Farragut West metro station. Ronald Reagan Washington National Airport is 5 miles from the asset. 1899 Pennsylvania is also within 2 miles of a 172,000-square-foot office building, which Paramount sold for $154.5 million<\/a> in September.<\/p>\n","protected":false},"excerpt":{"rendered":"

The 191,000-square-foot Class A property last traded in 2010 for more than $150 million.<\/p>\n","protected":false},"author":868,"featured_media":1004398337,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21783,11,21742,21747,1615],"tags":[36351,32779,36007,33601],"class_list":["post-1004398298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-investment","category-midatlantic","category-latest","category-office","category-washington-dc","tag-capital-improvement","tag-leed","tag-newmark-knight-frank","tag-paramount-group-inc"],"acf":[],"yoast_head":"\nParamount Agrees to $115M DC Office Disposition - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/paramount-agrees-to-115m-dc-office-disposition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Paramount Agrees to $115M DC Office Disposition\" \/>\n<meta property=\"og:description\" content=\"The 191,000-square-foot Class A property last traded in 2010 for more than $150 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/paramount-agrees-to-115m-dc-office-disposition\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-09T14:31:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/1899-Pennsylvania-Ave..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"512\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sergiu Inizian\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/paramount-agrees-to-115m-dc-office-disposition\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/paramount-agrees-to-115m-dc-office-disposition\/\",\"name\":\"Paramount Agrees to $115M DC Office Disposition - 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